Jefferies (JEF +23.3%) shares surge as the firm's FQ4 report shows its total balance sheet...

|By:, SA News Editor

Jefferies (JEF +23.3%) shares surge as the firm's FQ4 report shows its total balance sheet reduced by nearly one-fourth and leverage lowered to 9.9x from 12.9x. A further boost comes as critic Sean Egan says he'll back off a request that JEF raise $1B in equity: "We'll see how the things look after they release the 10-K, but reducing assets by a significant number is very helpful."